Cineplex Entertainment on Thursday reported surging ticket pre-sales for the film adaptation of EL James’ novel Fifty Shades of Grey, as it released its latest financial results.
The outcome after the box office dust settles on Monday morning could be a record February weekend for the Canadian exhibition giant, according to Cineplex CEO Ellis Jacob.
“Our pre-sales have been awesome,” Jacob told Playback Daily on Thursday.
“There’s a great buzz around the movie, so hopefully it will have one of the biggest February weekends ever, and propel us for the quarter,” he added of the Universal and Focus Features release.
Cineplex could use a strong Hollywood box office performer or two after on Thursday posting record fourth quarter revenue, even as weak Hollywood film product disappointed.
Cineplex posted earnings up 59% to $32.1 million for the three months to Dec. 31, 2014, compared to a profit of $20.2 million in 2013, on overall revenue up 2.8 per cent to $332.2 million.
But the raised profit came from increased concession and digital advertising sales, which offset box-office revenue per patron falling 3.8% to $9.06.
“That was a result of the 3D impact,” Jacob explained as fewer Hollywood 3D titles were available to play on its screens during the last three months of 2014, compared to 2013 when Cineplex had Frozen, a blockbuster family film, in its circuit.
Cineplex offset that lower box office per patron by seeing total media revenue jump 19.5% to $46.8 million. That business included contributions from Cineplex Digital Networks and Cineplex Media revenues, which are not impacted by quality of Hollywood film product.